The UK inter-merchant price range for austenitic alloy steel scrap has risen by ?10-20 per tonne over the past week, following stronger demand from UK mills, sources said on Friday May 11.
"Demand has picked up, and prices are healthy, so scrap is coming in," one UK trader said.Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?960-1,020 ($1,299-1,381) per tonne delivered on Friday, compared with ?950-980 per tonne on May 4."It seems that Outokumpu's UK mill is busy trying to get lots of scrap, so merchants nearby are competing with one another to supply them - meaning we've had to move our price up, too," a second UK trader said.Other market participants...